A life care annuity is a bundled insurance product comprised of a life annuity and long-term care insurance. Some recent studies find the two risks - longevity risk and long-term care risk - to be opposing and thus life care annuities advantageous in regard to pooling the two risks. Based on...

Funeral Aid Associations (FAAs) in Northeast Thailand offer micro funeral insurance at affordable premium levels while they barely risk-rate potential members. Due to the set-up of FAAs, high-risk individuals have a monetary incentive to join the insurance. Compared to many other micro insurance...

Kenneth Arrow and Karl Borch published several important articles in the early 1960s that can be viewed as the beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical contributions in insurance economics since that time. The review...

We rationalize a special type of sharing information which can typically be found in markets for occupational disability insurances. There, firms share information about acceptances and rejections of an applicant. We set up a multiple-step signalling model with uninformed agents and endogenize...

Kenneth Arrow and Karl Borch published several important articles in the early 1960s that can be viewed as the beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical contributions in insurance economics since that time. The review...

In this study, we assess the relevance of decreasing information asymmetry on life and non-life insurance consumption, by using data from 48 African countries during the period 2004-2014. Reduced information asymmetry is proxied by information sharing offices, namely: public credit registries...

In this study, we assess the relevance of decreasing information asymmetry on life and nonlife insurance consumption, by using data from 48 African countries during the period 2004-2014. Reduced information asymmetry is proxied by information sharing offices, namely: public credit registries and...

Recent events involving major insurance companies and insurance brokerage firms highlight substantial incentive problems in commercial and reinsurance markets where intermediation takes place. We show that in markets with informed as well as uninformed consumers and heterogeneous risk profiles...

A key feature of insurance markets is that the cost of selling insurance policies is contingent upon not only the number of policies sold but to whom they are sold. This differentiates insurance markets from conventional markets and admits novel strategies, such as segmentation strategies,...

Bundled insurance contracts, providing protection based on several loss coverages, are attractive because they allow insurers to focus on the needs of the policyholder. A common contract feature is a deductible set so that the insurance pays the excess over the deductible of the sum of losses...